Bitdeer Technologies Group (NASDAQ:BTDR) Rating Reiterated by Benchmark

Benchmark reiterated their buy rating on shares of Bitdeer Technologies Group (NASDAQ:BTDR) in a research note published on Monday, Benzinga reports. The brokerage currently has a $13.00 price target on the stock.

Several other analysts also recently commented on BTDR. Rosenblatt Securities began coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, April 9th. They set a buy rating and a $10.50 price objective on the stock. HC Wainwright reissued a buy rating and set a $20.00 price objective on shares of Bitdeer Technologies Group in a research report on Tuesday, March 26th. Needham & Company LLC assumed coverage on shares of Bitdeer Technologies Group in a research note on Monday. They set a buy rating and a $14.00 target price on the stock. Roth Mkm assumed coverage on shares of Bitdeer Technologies Group in a research note on Thursday, February 29th. They set a buy rating and a $14.00 target price on the stock. Finally, BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, March 13th. They set a buy rating and a $15.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $13.64.

Bitdeer Technologies Group Stock Performance

Shares of BTDR stock opened at $5.65 on Monday. Bitdeer Technologies Group has a one year low of $2.77 and a one year high of $14.65. The company’s 50-day moving average is $7.12 and its 200 day moving average is $6.57. The company has a market capitalization of $632.63 million, a price-to-earnings ratio of -13.45 and a beta of 1.70.

Institutional Investors Weigh In On Bitdeer Technologies Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EDBI Pte Ltd purchased a new stake in Bitdeer Technologies Group during the 3rd quarter valued at approximately $3,444,000. Exchange Traded Concepts LLC grew its holdings in shares of Bitdeer Technologies Group by 83.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after purchasing an additional 243,245 shares in the last quarter. Swiss National Bank purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at $604,000. Barclays PLC purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at $49,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Bitdeer Technologies Group in the third quarter valued at $150,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for the cryptocurrency mining community. It mines cryptocurrencies for its own account and serve the cryptocurrency mining community by providing cryptocurrency mining solution. The company handles various processes involved in mining, such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management, and daily operations.